Reference no: EM133673103

Customer Behavior and Strategic Planning

Over the past few quarters, your store has been getting less and less traffic, which has, in turn, reduced sales. As the Assistant Marketing Manager, you are feeling concerned that the marketing for your store has started alienating customers (or that a local competitor is doing a better job reaching your customers). It is time to take action in order to discover the cause associated with the loss of traffic.

In the latest department meeting, your boss tasked you with developing a presentation discussing consumer decision-making process, customer needs, and consumer data, and how each affects customer behavior, as well as the influence your target customer's behavior has on a sustainable competitive market strategy. Your research will provide department stakeholders with essential information needed to address the company's current marketing campaign

Consumer Decision-Making Process: Explain the AIDA model and what an organization can do to stand out in each aspect of the model. Provide at least one example for each segment of the model to support your points.

Customer Needs & Targeted Marketing: List and explain at least three challenges of identifying true consumer needs and suggest a minimum of two methods for gathering this type of information. How could identifying consumer needs help the organization start a target marketing campaign that hits the mark and increases traffic? Explain your answer.

Consumer Data: Explain how different types of data (i.e., demographics and psychographics) can help develop marketing strategies to improve the consumer experience. Provide at least two examples of each.